Time to Buckle Up................... it's going to get rough

[RedEarth]

U.S. stock futures point to major decline on re-open

Futures on Dow Jones Industrial Average down around 450 points

LONDON (MarketWatch) -- If futures contracts traded on a day when U.S. stocks weren't even due to open are anything near accurate, then markets will be in for a major decline on Tuesday, with concerns about bond insurers and the health of financial institutions dragging markets lower.

March contracts on the Dow Jones Industrial Average traded 522 points lower to 11,584 as of 11:30 a.m. Eastern.
Futures contract don't move in complete lockstep to the underlying indexes, but by comparison, the Dow industrials fell 382 points on Sept. 20, 2001, just days after the terrorist attack on the Twin Towers, and by 387 points on Aug. 9, 2007, shortly after the recent credit crunch first emerged.

S&P 500 futures fell 60 points to 1,265.00 and Nasdaq 100 futures fell 76 points to 1,773.25.

http://www.marketwatch.com/news/story/stock-futures-pointing-sharp-losses/story.aspx?guid=%7B9A894790%2D5D69%2D48C6%2D8303%2D18EE41CA5D1C%7D


A global train wreck
How a French banker helped to derail stock markets from Mumbai to Paris.
• Bank of China could be knocked
• Germany's WestLB reveals hit


Financial freefall
European stocks in massive sell-off on sharply intensified fears for the financial sector.
• Asian in broad, deep decline
• Canadian stocks lose 4%

http://www.marketwatch.com/

[Subdivisions]

1. Ok. I've seen this coming. And I've even posted on it today, but

now it's getting downright scary!

[uppityperson]

2. Is it time to take my money out of the bank?

[Subdivisions]

4. From what I see, and I watch this EVERY DAY, that would probably

be good advice.

[Raven]

6. Don't take your money out of the bank...that will only make things

worse. If you're not there already, try to find a community based bank, locally owned, and move your money there.

[uppityperson]

7. I'm in a local community credit union.

makes it difficult to bank when out of the area, but still, won't change.

[RedEarth]

11. Your money should be okay

I'd leave it right where it is. The stock market could get real messy over the next few days, but your money should be okay.

[Javaman]

21. Same here. I never ever have trusted a bank. very bad mojo. nt

[CK_John]

14. If all your accounts in 1 institution exceed the Fed Ins rate move the excess to

another instution. Beware of your tax situation by doing this. Also be aware that stocks are insured but not the price of those stocks.

[originalpckelly]

15. Oh gee, a bank panic, just what we need.

:eyes:

There's FDIC insurance on most banks up to $100,000, so don't run to withdraw your money, that would only make the problem worse.

[uppityperson]

22. The post was mostly tongue in cheek.

My couple hundred dollars isn't going to do much. It will be interesting to see when, again, there are runs on banks. Santa brought me a chainsaw, I have canning supplies and chickens, am set.

[groovedaddy]

3. It's been rough for working people for awhile now

it might be time for it to get REALLY rough for the middle class. The rich will take their money and run.

[radfringe]

5. but but but bush sez

"everybody can has cheeseburger" with his rebates

[bdamomma]

17. * can take those rebates and shove them up his a$$.

this is nothing but a slap in the face to Americans.

[SammyWinstonJack]

8. When you've got nothing, you've got nothing too lose. How many are already in that boat?

[NoFederales]

9. Just fall back on those teaching skills that on-the-job training made necessary:

"we learned to do so much with so little that we became able to do anything with nothing".

Life expectancy and comfort are diminishing returns; your assets are not what you think they are--and are not yours anyway. And we all ate cake and the Party ended.

NoFederales

[formercia]

18. Been there for a long time.

The boys made sure of that.

Depression? What Depression? I live like this all the time.


Got my seed order Sat. All set here.


Ben Gunn never had it so good.

Have ye got a bit o' cheese?

[melody]

10. It has been this bad before, it will be this bad again, we'll survive

Till then

http://www.dmoz.org/Home/Homemaking/Frugality/

http://www.frugalvillage.com/forums/index.php

[seabeyond]

12. i have been waiting and hording for four years now..... just

ready for the dump.... so we can then start building again.

[1776Forever]

13. Well now the millionaires that the war made can sit back on their bank accounts and smile......

While the rest of us get even more stressed out on how we are going to pay some of our bills (can't pay them all). The "rebate" thing will go towards our house taxes if and when we get it. I am so disgusted with our so called government right now - both Dem's and Repub's. It is a sin how they have let our country die this slow death - and let the Chinese, Japanese and yes even the Mexican Government (not the immigrants) take over while we just drift away sold down the river. :grr: :shrug: :nopity:

[melody]

19. Actually, the billionaires were the problem kids

But you're right -- every one of the mega-wealthy robberbarons in our government is a traitor and should be
treated as such.

[bdamomma]

16. and just think the way they are reporting it or calling it a

"slow growth" that is what BS Bernanke is spewing up. Like the markets around the world are making this stuff up?

[balantz]

20. Self delete

:scared: